N. Korean leader Russian culture minister, pushes for stronger cultural ties SEOUL, June 30 (AJP) - North Korean leader Kim Jong-un met with Russian Culture Minister Olga Lyubimova in Pyongyang on Sunday, highlighting growing cultural cooperation between the two countries. The visit marked one year since the signing of the North Korea-Russia Treaty on Comprehensive Strategic Partnership, which took place during Russian President Vladimir Putin's visit to Pyongyang in June last year. The meeting was held at the headquarters of the Workers' Party of Korea and was attended by Russian Ambassador Aleksandr Matsegora. According to Pyongyang's state media Korean Central News Agency (KCNA), the conversation was friendly and warm throughout. Kim described the 2023 treaty as a "substantial contribution to the co-prosperity, development, and promotion of the well-being" of both nations. He emphasized that while all areas of cooperation are important, cultural and artistic exchange plays a vital role in "strengthening the foundation of the public mindset" and in deepening "friendship, mutual understanding, and shared sentiment" between the peoples of the two countries. "To that end, we need to expand our cultural exchange and learn more about each other's traditions," he said. Lyubimova expressed her appreciation for Kim's attention to the Russian delegation's visit. She said it was a meaningful time to be in Pyongyang, "when the strength and resilience of the DPRK-Russia friendship have become even more evident," and cultural cooperation had reached "the highest level in history." After the meeting, Kim and Lyubimova attended a joint performance at the East Pyongyang Grand Theatre. The event featured Russian performers from the Pyatnitsky State Academic Russian Folk Choir and the Gzhel Moscow State Academic Dance Theater, as well as North Korean artists. The program included traditional Russian songs and dances along with North Korean pieces such as "Arirang." One performance included background images showing North Korean soldiers in Ukraine's Kursk region waving both the DPRK and Russian flags. Kim presented a floral basket to the Russian performers and said he believed the visit would help further strengthen "the militant comradeship and feelings of friendship between the two countries." His daughter, Kim Ju Ae, was present throughout the event and stood by his side during conversations with Lyubimova and Ambassador Matsegora. Later that day, North Korean Culture Minister Sung Jong Gyu and Lyubimova met at the Mansudae Assembly Hall and signed a cultural cooperation agreement covering the years 2025 to 2027. The Russian delegation also visited Pyongyang's Liberation Tower, a monument commemorating Soviet soldiers who died fighting Japanese forces in Korea during World War II. North Korea has continued to spotlight its deepening ties with Russia since the start of the war in Ukraine, reinforcing its alignment through military cooperation, high-level exchanges, and joint cultural initiatives. Kim Jong Un meets Russian culture minister, pushes for stronger cultural ties 2025-06-30 09:47:10

S. Korea starts dismantling of Kori-1 nuclear reactor after final green light SEOUL, June 27 (AJP) - South Korea has begun dismantling its first commercial nuclear reactor, Kori-1, following final approval from the Nuclear Safety and Security Commission on Thursday. The project, led by Korea Hydro & Nuclear Power (KHNP), is expected to span 12 years, ending with full site restoration by 2037. Kori-1, located in Gijang County, Busan some 320 kilometers (198 miles) southeast of Seoul, was a 595-megawatt pressurized water reactor built by Westinghouse. It began commercial operations in 1978 and was permanently shut down in June 2017 after nearly four decades of service. KHNP submitted its final decommissioning plan in 2021, which received regulatory approval this week. Ahead of physical dismantling, KHNP began chemical decontamination work in 2023 to reduce radiation levels in key systems such as the reactor coolant and residual heat removal systems. The dismantling process will begin next month with the removal of equipment from the turbine hall, desalination facilities, and outdoor tanks. Spent nuclear fuel is scheduled to be removed by 2031, with final decontamination and site cleanup completed six years later. KHNP has allocated about one trillion won, or about $736 million, for the entire project. The budget includes 808.8 billion won for dismantling work and 262.5 billion won for waste disposal, all funded through its decommissioning reserve. Several challenges remain. One of the biggest is managing radioactive waste. KHNP expects to generate about 14,500 drums of low- and intermediate-level waste, raising concerns over whether the existing disposal facility in Gyeongju can handle the load, especially as other reactors are also nearing retirement. The spent fuel currently stored in the reactor’s wet pool will also need to be transferred to dry storage. KHNP plans to build a storage facility onsite by 2030, but it must first secure local consent by 2028. Public opposition is expected. The future use of the Kori-1 site remains undecided. Given its proximity to the operating Kori 2, 3, and 4 reactors, full environmental restoration for public or agricultural use appears unlikely. Regulators are considering a restricted industrial zone suitable for facilities such as factories. South Korea currently holds 96 key technologies related to decommissioning, developed by KHNP and the Korea Atomic Energy Research Institute. Government-backed research and development is also underway to expand capabilities, including technologies for dismantling heavy water reactors like those at the Wolsong plant. According to the International Atomic Energy Agency, 214 nuclear reactors around the world have been permanently shut down, with 588 expected to close by 2050. So far, only four countries, the United States, Germany, Japan, and Switzerland, have completed full commercial reactor decommissioning. 2025-06-27 10:22:34

Seoul logistics pipeline shrinks amid cautious market sentiment SEOUL, June 26 (AJP) - South Korea’s logistics market is pulling back. After years of rapid expansion, the Seoul metropolitan area is now seeing a marked slowdown in new warehouse development, as rising costs, limited access to project financing, and a shifting demand landscape prompt developers to reassess their strategies. According to the 2025 Korea Logistics Market Report from Cushman & Wakefield Korea, about 3.92 million square meters of logistics space were completed in the capital region last year, a 33 percent drop from 2023. The number of new projects also fell sharply, from 95 to 51. Even amid the broader slowdown, one trend stood out: a continued shift toward larger-scale facilities. Warehouses over 66,000 square meters made up a growing share of the new supply. These larger properties are favored by major e-commerce and third-party logistics, or 3PL, firms, which now dominate the tenant base. Nearly 40 percent of new approvals in 2024 were in this category, pointing to sustained demand for scaled-up, high-efficiency centers. However, a widening gap between approvals and construction suggests the pipeline is far from secure. As of late 2024, 85 percent of logistics projects that had received permits were still unbuilt. More than 110 of those had remained idle for over two years. The report attributes this stall to a combination of rising development costs and a tightening project financing environment, which have made it increasingly difficult to move forward with new construction. As a result, the market is entering a prolonged supply correction. Region by region, the picture varies. The eastern zone, traditionally anchored by Icheon, saw the steepest drop in new completions, down nearly 70 percent from the previous year. With land growing scarce in core areas like Seoicheon, developers are shifting outward to places such as Yeoju and southern Icheon. The western region, which includes Incheon, Siheung, and Gimpo, was the only area where supply increased, delivering close to 2 million square meters in 2024. Still, with only six new projects approved there last year, future deliveries are expected to decline. In the south, activity remained stable. More than 1.19 million square meters of new space were completed in Anseong and Pyeongtaek, with most of it leased before completion. The central region, including Anyang, saw no new deliveries for the second year in a row. The north added only a modest amount of new space. Speculative development has slowed significantly. Developers are increasingly turning to build-to-suit strategies, especially in the cold storage segment. Many cold-chain facilities built during the pandemic remain vacant, often due to outdated or mismatched designs. The report points to issues such as inefficient dock access, narrow ramps, and freezer-heavy configurations that fail to meet current demand. The average vacancy rate for cold storage centers now stands at nearly 40 percent, reflecting a persistent disconnect between facility design and tenant needs. By contrast, ambient logistics centers recorded a vacancy rate of about 17 percent. These facilities have fared better, especially when built with large floorplates and located near highway interchanges. Properties with strong specifications and proximity to transportation corridors are seeing faster leasing and stronger renewal momentum. With fewer completions expected in 2025, high-quality existing properties are becoming more attractive. "Large-scale, high-spec properties with strong access to transportation networks will see stronger leasing momentum, especially in undersupplied areas like western Gyeonggi," the report says. Cushman & Wakefield characterizes 2025 as a structural turning point for the market. While new supply is set to decline further, demand is becoming more selective, pushing landlords and developers to focus on quality, functionality, and long-term viability. After years of chasing volume, the market is now resetting. For both investors and operators, success this year will depend less on how much space is delivered and more on how well that space performs. 2025-06-26 15:56:02

Small business owners overwhelmed by rising costs and wage pressure SEOUL, June 26 (AJP) - South Korea's small business owners are feeling the weight of growing economic pressure, with rising food prices and labor costs making it harder than ever to stay afloat. Many are now calling on the government to freeze or even lower the minimum wage. According to a survey released Thursday by the Korea Economic Research Institute (KERI), 63.4 percent of self-employed respondents said their business conditions have worsened compared to last year. Only 6.8 percent reported any improvement, while the rest said things were roughly the same. The minimum wage for 2025 is 10,030 won ($7.4) per hour, a 1.7 percent increase from 2024. That translates to a monthly income of 2,096,270 won, assuming a 40-hour workweek with paid weekly leave. But for half of the business owners surveyed, even that level is already too much to bear. The burden is especially heavy in the hospitality sector. In the lodging and restaurant industry, 64.2 percent said the minimum wage poses a serious strain. Similar concerns were echoed in retail at 51.9 percent, education services at 50.0 percent, and manufacturing at 48.4 percent. Asked about what should happen to the minimum wage next year, 44.2 percent said it should be frozen. Another 15 percent favored a reduction. About 21.2 percent said a modest increase of one to three percent would be manageable, while only 10.2 percent supported a hike of more than three percent. But wage costs are only part of the problem. Food and raw material prices have surged in recent years, eating into already tight margins. Statistics Korea reported that the consumer price index in May rose 1.9 percent from a year earlier to 116.27. Food prices increased much more sharply, with the food-only index reaching 125.15 and dining-out costs rising to 124.56. Both figures are around 25 percent higher than in 2020. Basic ingredients have not been spared. A 20-kilogram bag of rice now costs 52,520 won, up eight percent over the past five years. Spinach prices jumped 29.2 percent in the same period, while potatoes went up 15.3 percent. Everyday meals have become noticeably more expensive. In May, a single roll of gimbap in Seoul averaged 3,623 won. That is a 45.8 percent increase from 2,485 won five years ago. Prices over 3,500 won are now common, and some franchise shops charge more than 4,000 won. Naengmyeon, once priced around 9,000 won, now averages 12,269 won. Bibimbap rose to 11,462 won, up nearly 32 percent. Even pork belly has jumped past the 20,000 won mark per serving. For many business owners, it is no longer just a tough season. It is a breaking point. Nearly 29 percent said they are already operating at their limit. A staggering 30.4 percent reported earning less than the legal monthly minimum wage. And when it comes to hiring, 65 percent said they simply cannot afford to take on new workers. Lee Sang-ho, head of KERI's economic and industrial division, called for caution in the upcoming minimum wage decision. "To ease the burden on small business operators and restore momentum in the economy, this year's minimum wage decision should carefully consider employers' payment capacity and the broader employment situation," he said. 2025-06-26 15:05:41

President Lee calls for 'fair growth' and capital market reform in first parliamentary address SEOUL, June 26 (AJP) - President Lee Jae-myung called Wednesday on lawmakers to back his push to revive the economy and support struggling households, calling the effort "the most urgent task we must address today." Delivering his first policy speech at the National Assembly since taking office, Lee urged cooperation on a supplementary budget designed to stimulate growth and stabilize livelihoods. "On June 4, right here in the National Assembly, I took the presidential oath and pledged to build a country where the people are the true owners, a country that grows and develops with renewed strength, a society where everyone prospers together, where culture flourishes, and where safety and peace prevail," he said. Lee warned that if slow growth continues, opportunities will shrink and social tensions could intensify. "We must open the door to 'fair growth,' where we create new engines of growth and share both the opportunities and the outcomes," he said. "Only then can we ease polarization and inequality, and move toward a world where everyone thrives together." He also highlighted the need to restore credibility in South Korea's financial markets. "We need to normalize the capital markets," Lee said. "If we can recover transparency and fairness in the markets, we can revitalize the economy and allow companies to grow properly, leading us into an era where the KOSPI surpasses 5,000." His remarks came just two days after the benchmark KOSPI index crossed the 3,100 mark during intraday trading on June 24 for the first time in nearly four years. The index touched a session high of 3,101.83 before closing at 3,090.83, up 2.53 percent from the previous day. The rally was fueled by strong gains in semiconductor stocks and renewed optimism following news of a ceasefire agreement between Israel and Iran. 2025-06-26 11:22:24

S. Korea and Türkiye deepen energy ties with focus on renewables SEOUL, June 25 (AJP) - South Korea and Türkiye took a step toward closer cooperation in clean energy with a joint seminar held on Tuesday at the National Assembly in Seoul. The event brought together lawmakers, diplomats, business leaders, and energy experts to explore how both countries can work together to tackle the global energy transition and enhance energy security. The "Korea–Türkiye Renewable Energy Seminar" was co-hosted by National Assembly member Baek Hye-ryun, the Turkish Embassy in Seoul, the Republic of Türkiye Investment Office, the Korea New and Renewable Energy Association, and Deloitte Anjin LLC. The focus was on building connections between public and private sector leaders and identifying opportunities for joint investment in renewables and climate-related industries. "Clean energy transition will dominate the global agenda in the period ahead," said Tolga Şimşir, Deputy Head of Mission at the Turkish Embassy. "For Türkiye, diversifying our energy sources and supply routes is a key priority. Our goal is to secure an uninterrupted, affordable, and sustainable energy supply that supports both the well-being of our people and the resilience of our economy." Şimşir pointed to Türkiye's "Renewable Energy Road Map 2035," unveiled in October last year, as a cornerstone of its energy strategy. "We plan to quadruple our solar and wind capacity from 30 gigawatts to 120 gigawatts by 2035, with 108 billion dollars of planned investments," he said. "This seminar is timely and offers valuable insight into the Turkish renewable energy market and the opportunities it presents." Zeynel Kılınç, Vice President of the Republic of Türkiye Investment Office, noted that while South Korean companies are already active in Türkiye's automotive, steel, and electronics sectors, energy remains relatively untapped. "The energy industry has great potential for collaboration," he said. "Both countries are heavily dependent on imports and need to diversify their energy sources." Türkiye has made significant headway in expanding its renewable energy portfolio. "The installed capacity for renewables now makes up nearly 60 percent of our total capacity of 116 gigawatts," Kılınç said. "In 2024 alone, more than 45 percent of our electricity came from renewable sources." He outlined Türkiye's energy policies, which include the YEKDEM feed-in tariff program, the YEKA large-scale auction model, incentives for self-consumption-based solar systems, and intergovernmental agreements with long-term power purchase guarantees. "These mechanisms have provided a stable foundation for growth and continue to drive our transition to renewables," he said. Kılınç called on South Korean companies to take part in Türkiye's clean energy expansion, particularly in areas like battery storage, power plant development, and equipment manufacturing. "Together, we can create solutions that not only benefit our two countries, but also help advance the global shift to green energy," he said. "Türkiye is open for business, and our Investment Office is here to support you every step of the way." 2025-06-25 17:05:36

Chinese ambassador urges Korea to reject protectionism, stresses value of China ties SEOUL, June 25 (AJP) - Chinese Ambassador to South Korea Dai Bing on Wednesday warned that the world is facing a period of historic upheaval and urged South Korea to stand firm against rising protectionism by maintaining close economic ties with China. Dai made the remarks during the Korea Economic Design Forum (KEDF), held at the CCMM Building in Seoul's Yeouido district. The event marked the seventh anniversary of Economic Daily and was co-sponsored by Aju News Corporation, the Ministry of Trade, Industry and Energy, the Ministry of SMEs and Startups, the Korea Chamber of Commerce and Industry, the Federation of Korean Industries, the Korea Employers Federation, and the Korea International Trade Association. "In the midst of this turmoil, economic globalization and international cooperation are facing strong headwinds," Dai said, referring to ongoing wars in Ukraine and the Middle East, as well as the United States' involvement that has, in his view, rattled the global order. "Unilateralism and protectionism are reemerging, and the momentum for global growth is weakening, leaving many economies grappling with serious challenges." He criticized Washington's trade policy for imposing sweeping tariffs on all trading partners, calling it harmful to the global economy and multilateral trade norms. "This approach has inflicted significant damage on the global economic order and has heightened uncertainty in global politics and the economy," he said. Dai emphasized that Beijing had taken firm countermeasures, aimed not only at defending China's legitimate interests but also at "safeguarding international fairness and justice." He added, "Objectively, this has also provided other countries with more time and space for negotiation." Although China and the U.S. have reached some tentative agreements, Dai cautioned that follow-through was essential. "The U.S. must act with credibility and sincerity in carrying out those results," he said. "Threats and pressure against China will not work." On South Korea–China relations, Dai said the two countries' economies are deeply connected through supply and industrial chains. He called both nations "important global economic players" and urged them to work together to defend free trade and stable supply networks. "Both sides should uphold principles and firmly oppose protectionism," he said. Dai also made a direct appeal to South Korean companies, framing China not as a competitor to avoid but as a market full of opportunity. "China's massive market, complete industrial system, and continued push for openness are powerful engines for bilateral cooperation," he said. "Investing in China means investing in the future. If you lose the Chinese market, you lose the foundation to talk about global strategy." 2025-06-25 15:55:25

Shinsegae's Jung Yong-jin tapped to lead Asia arm of Trump-linked Rockbridge Network SEOUL, June 25 (AJP) - Shinsegae Group Chairman Jung Yong-jin is expected to take the helm of Rockbridge Asia, a new regional branch of the Rockbridge Network -- a powerful conservative political organization closely tied to former United States President Donald Trump and several key figures in his potential second administration. Multiple sources in South Korea's business and investment banking circles confirmed on Wednesday that Jung has agreed to lead Rockbridge's Asia operations. The new division, based in Seoul, marks the group's first foray into global expansion. Jung's expected appointment is drawing attention amid the Lee Jae-myung administration's efforts to deepen ties with Washington ahead of a possible Trump return. The Rockbridge Network was founded in 2019 by current U.S. Vice President J.D. Vance and conservative commentator Christopher Buskirk. Known for its close alignment with Trump, the group includes Donald Trump Jr. and a range of high-profile players from Trump's previous administration. Among them are Tyler and Cameron Winklevoss, who reportedly donated one million dollars' worth of Bitcoin to Trump, as well as technology investor David Sacks and prominent conservative donor Rebekah Mercer. Also affiliated are current administration officials such as White House Chief of Staff Susie Wiles, Secretary of State Marco Rubio, Treasury Secretary Scott Besant, Commerce Secretary Howard Lutnick, Health and Human Services Secretary Robert F. Kennedy Jr., Director of National Intelligence Tulsi Gabbard, and Middle East envoy Steve Witkoff. The group's growing influence has attracted financial backing from major U.S. tech figures, including PayPal co-founder Peter Thiel and Tesla CEO Elon Musk. Rockbridge now aims to expand its political influence abroad, starting with Asia. South Korea has been selected as the hub for the region, with branches also planned in Taiwan and Japan. The expansion is widely viewed as a strategic effort to strengthen ties with U.S. allies in East Asia while building geopolitical leverage against China. Richard Tsai, chairman of Taiwan's Fubon Group, is expected to lead Rockbridge Taiwan, while Maeda Tadashi, chairman of the Japan Bank for International Cooperation (JBIC), will head the Japan branch. Jung will oversee the entire regional structure from the Seoul headquarters. Analysts see Rockbridge's launch in South Korea as highly significant. With the Lee administration expected to engage more actively with U.S. decision-makers on trade, North Korea, and regional security, Jung's leadership could offer a direct channel to key power centers in Washington. "Chairman Jung has been asked to take on the role at Rockbridge and is carefully considering whether to accept the offer," said one business source familiar with the matter. 2025-06-25 14:32:29

Yoon's legal team denounces arrest warrant as special counsel ramps up investigation SEOUL, June 25 (AJP) - Former President Yoon Suk Yeol's legal team filed a formal objection with the Seoul Central District Court on Wednesday, pushing back against an arrest warrant request from the special counsel investigating his December 3 martial law declaration. They argued that the warrant lacks legal basis and violates Yoon's right to a fair defense. Before the special counsel took over, Yoon had been summoned three times by the police -- on June 5, 12, and 19 -- but declined to appear on each occasion. He made it clear that he did not intend to respond during the police investigation phase, prompting concerns that he was trying to run out the clock on the limited-duration inquiry. In the written opinion submitted to the court, Yoon's lawyers claimed the request was procedurally improper and blindsided the former president. "President Yoon has not received a single summons from the special counsel. We have not been informed of where the office is located, who the lead prosecutor is, or where any questioning would take place," the lawyers said in a statement. "Skipping every basic procedure and going straight to an arrest request is impossible to understand and seriously infringes on his legal rights." The team also questioned the legitimacy of the warrant, noting that it was based on summons issued during an earlier police investigation. "The police and the special counsel are clearly separate investigative bodies," the statement read. "Basing a special counsel's arrest warrant on police summons lacks legal validity and procedural fairness." The court is currently reviewing the submission and could issue a decision as early as today. Unlike detention warrants, arrest warrants in South Korea can be granted without a formal hearing. Special Counsel Cho Eon-seok filed the arrest warrant on Jun. 24, just six days after formally launching the investigation. Yoon is facing multiple charges, including obstruction of official duties, abuse of power, and instigating violations of the Presidential Security Act. Prosecutors allege that he ordered the Presidential Security Service to block police from arresting him on Jan. 3, and that he later instructed top military intelligence officials to delete encrypted phone records linked to the martial law plan. Yoon's lawyers said he had intended to cooperate with the special counsel and appear voluntarily once a schedule was agreed upon. They characterized the arrest warrant as an ambush and reiterated that he is willing to respond to a properly issued summons. The charges stem from Yoon's declaration of martial law on Dec. 3, 2024. The move, which bypassed the National Assembly, included the deployment of military units and the activation of emergency communication protocols, raising serious constitutional concerns. Two failed attempts to arrest Yoon followed in January. On both January 3 and January 15, officers from the Corruption Investigation Office for High-ranking Officials (CIO) were stopped by the Presidential Security Service at the gates of his residence. Yoon's legal team at the time argued the CIO lacked the authority to detain a sitting or former president under the Constitution. On April 4, 2025, the Constitutional Court upheld the National Assembly's impeachment of Yoon, officially removing him from office. It was the first time a South Korean president had been impeached and ousted over allegations related to insurrection. After the ruling, the case was transferred to prosecutors. In early June, the National Assembly passed legislation establishing a special counsel to investigate whether Yoon's actions amounted to insurrection or treason under the Criminal Act. Cho's team began its work on June 18 and has moved quickly. Former Defense Minister Kim Yong-hyun was indicted for allegedly ordering the destruction of evidence, and prosecutors are now seeking an additional detention warrant for him. The special counsel has emphasized the urgency of the probe, which must be completed within 150 days by law. 2025-06-25 10:16:16

Chinese singer Nina makes confident K-pop debut with 'Never Afraid' SEOUL, June 19 (AJP) - Chinese singer Nina officially stepped into the K-pop spotlight on Thursday, Jun. 19, with the release of her debut mini album Never Afraid. Featuring four tracks, the album marks the beginning of her solo journey, blending her unique tone with a message of determination and self-belief. Before debuting, Nina steadily gained attention through cover videos and live content, quietly building a loyal fanbase. In an interview, she said her dream of becoming a singer has never wavered. "I never once gave up on my dream of becoming a singer, even back in school," she said during an interview with AJP on Jun. 16. "I discovered the joy of performing by covering K-pop dances with friends, and I practiced with all my heart every day during my trainee period. There were more exciting moments than hard ones." The title track, Freeze, reflects her emotions leading up to her debut. "I wanted to express the nervousness and determination I felt," she said. "The line 'More than expectations, may this feeling never fade' really reflects my mindset. I want to move forward without losing the feeling I had at the start." While most of the response has been positive, some critical voices have surfaced online. Nina remains unfazed. "I know that more people support me, so I won't be shaken," she said. "At first, even my parents were against my dream, but they recognized my sincerity and effort, and now they're my biggest supporters." She smiled and added, "If there's anything I need to improve, please let me know. I'll do better." Nina named BLACKPINK's Jennie as her role model. "I want to be an artist who shows outstanding talent and charm like Jennie," she said. "I hope to keep connecting with fans through diverse content and grow as an artist." With Never Afraid, Nina delivers a clear statement: she's here, she's ready, and she's not backing down. Through the dreamy mood and emotional tension of Freeze, she captures the uncertainty of first steps and the quiet strength it takes to keep moving forward. 2025-06-19 18:03:10